Kotak Securities acquires Bengaluru-based FundExpert Fintech

Kotak Securities acquires Bengaluru-based FundExpert Fintech

(Representative image) Kotak Securities acquires Bengaluru-based FundExpert Fintech

Photo : iStock

Kotak Securities on Friday announced that is acquiring all assets of FundExpert Fintech, a Bangalore-based fintech startup through its Startup Investments and Partnerships Team.

Founded in 2020 by an IIT Madras, IIM Bangalore alumnus Anuraag Saboo and XLRI alumnus Amit Sharda, FundExpert focuses on offering affordable digital multi-asset wealth management platform solutions to Independent Financial Advisors (IFA’s) and mutual fund distributors across the country. Currently, more than 2,300 distributors use FundExpert platform to manage Mutual Fund portfolios of more than 15,000 crores.

Jaideep Hansraj, MD & CEO, Kotak Securities Limited said, “Our strategy to acquire the assets of Fundexpert is to provide a tech-led one stop shop for Independent Financial Advisors and Mutual Fund Distributors in India. Distributors will be able to manage their mutual funds, equity, and other financial products distribution seamlessly through this platform. This acquisition is part of our strategy in scaling IFA-led distribution business with the Kotak brand, our distribution network and vast experience in the financial services sector.”

The Founders, Anurag Saboo and Amit Sharda in a joint statement said, “There is a strong need to empower the financial distributors with modern technology, but building and developing such high-tech solutions need deep pockets and brand reliance. We are truly excited to have Kotak Securities onboard to back our idea of empowering the existing distribution network of small and mid-sized Advisors/Distributors by giving them digital identity, the required technology and research solutions. It will ensure innovative and quality financial products, services and advisory that will reach to all parts of India

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